A bonus accountancy feature from our simple platform

Perhaps you mistakenly think that all freemarket is good for is allowing you to make considerable savings of up to 75% on your FX fees. But you would be wrong. We do marginally more than that.

Customers have found that our straightforward online platform actually serves a nifty secondary purpose, enabling them to consolidate records of their inbound and outbound payments into a single page that can be monitored with ease.

Keeping track of invoices and payments is an eye-wateringly complex chore at the best of times, made even worse when dealing with a variety of currencies and multiple bank accounts. Business owners, CFOs and accountants will often find themselves having to establish the state of their finances by cross-referencing several of company bank accounts.

Cross-reference no longer! By signing up with freemarket, you can make and receive all of your payments through our platform. The ‘Completed’ tab on ‘Your Exchanges’ page keeps a record of past transactions, compiled into a handy, simple-to-read table that effectively functions as an alternative bank statement; all of your payments – regardless of which account they were sent to or from – are kept together in one place.

And you can click on the ‘Instruction’ number or ‘View Details’ for a more detailed breakdown of transactions:

In a recent blog post we examined how – besides the obvious cost savings – the major benefits of transacting with freemarket are the time it saves and how easy it is to use. Now, this modest feature – free to all freemarket customers – promises to do the same.

It’s almost as if we’re trying to make a habit out of taking traditionally complicated and unpleasant financial tasks and making them extremely simple. Watch this space for further time-saving developments coming to our platform…

James is freemarket’s Chief Commercial Officer. He has a history of finding new ways to solve age-old financial challenges and was responsible for launching some of the first online money transfer and prepaid card initiatives in Europe.